SBI shares up nearly seven percent after jump in Q3 net profit

Mumbai: Shares of State Bank of India climbed nearly seven percent on Friday after it reported over 30 percent jump in net profit for the third quarter ended December 2014.The stock surged 6.68 percent to Rs 303.40 at the BSE.

On the NSE, it soared 6.75 percent to Rs 303.50.The stock was the top gainer among the blue-chip scrips on both Sensex and Nifty.

The country's largest public sector lender State Bank of India (SBI) on Friday reported over 30 per cent jump in net profit at Rs 2,910 crore for the third quarter ended December 2014 on the back of stronger other income despite higher provisioning for bad loans.

SBI had reported a net profit of Rs 2,234.34 crore in the year-ago period.

The total income of the bank rose to Rs 43,784 crore in the October-December quarter as against Rs 39,068 crore during the corresponding quarter of the previous fiscal, it had said in a BSE filing.

Besides, its net interest income rose nine percent to Rs 13,777 crore from Rs 12,640 crore during the review period.